Thu, Jun 26, 2008
Includes $780,000 In Grants To Start Operations
Brazilian planemaker Embraer agreed in May to establish a
production line for its upcoming Phenom 100 and Phenom 300 light
jets in Melbourne, FL... but city officials are still willing to
give the company even more money to sweeten the deal.
On Tuesday, the Melbourne city council approved the city's
approximately $1.25 million incentive package that lured Embraer to
Florida. The deal -- reached during negotiations that continued
even after the initial approval was announced last month,
as ANN reported -- includes $786,443 in
economic development grants and tax exemptions over the next five
years.
City officials also added land-clearing assistance and the
promise of speedier permit applications to sweeten the deal even
further, according to the South Florida Sun-Sentinel.
"This contract was a bear," Councilman Mark LaRusso praised City
Attorney Paul Gougleman for his work on the deal. "You did a great
job."
Not everyone gave their ringing endorsement to the deal,
however. Councilwoman Joanne Corby voted against the incentives
package, on concerns about how much money would be given to Embraer
upfront.
Gougleman replied some of the money will be held until Embraer
meets certain obligations and goals. "The bulk of the building
would have to be put up," he said.
In all, Embraer is slated to receive over $13 million in
incentives from the city, Melbourne Airport, Brevard County, and
the state of Florida. The $41 million project is expected to create
at least 200 jobs in the area, with an average annual salary of
$50,000.
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